Republic of Tajikistan

Politics and economy

Tajikistan is a presidential republic. The main body of the legislative branch is the parliament—the Madzhlisi Oli.

Tajikistan is an agrarian and industrial country. Its main industries are natural gas, coal, non-ferrous metallurgy and light industry. Most of its large companies are controlled by the state. The country has significant potential in the area of hydroelectric power, and among the CIS countries is second only to Russia in this regard.

Tajikistan is rich in deposits of precious stones, uranium, gold, coal and aluminum ores. The north of the country is home to the Bolshoi Konimansur deposit, one of the largest deposits of silver in the world.

The country imports ferrous metals, products of light industry, cars, food, agricultural equipment, pharmaceutical products and medical equipment. The main importers from the country are Russia (32.3%), China (11.9%), Kazakhstan (8.8%) and Uzbekistan (4.7%). Tajikistan’s national currency is the somoni.

Tajikistan has a bilevel banking system which includes the National Bank of Tajikistan (NBT) and 14 commercial banks. The National Bank of Tajikistan regulates commercial banks. As a first-level bank, it acts as the lender of last resort for them.

National AML/CFT regime

The laws of Tajikistan provide for criminal penalties for crimes associated with money laundering and terrorist financing. The country has been working on comprehensive AML/CFT legislation. To this end, a working group led by the President’s Economic Advisor was formed in January 2009 (AML/CFT Law).

In October 2009, President Emomali Rakhmon signed Decree No. 724 on the creation of a financial intelligence unit (FIU) called the Financial Monitoring Department of the National Bank of Tajikistan. The department is an administrative-type FIU.

The department is tasked mainly with collecting and analyzing information from organizations subject to financial monitoring and transferring it to authorized law enforcement bodies. To support the work of the FIU, incoming financial information is constantly monitored and analyzed.

Five divisions have been created in the Financial Monitoring Department. Mr. Fayzullo Fayzullozoda, director of the Financial Monitoring Department of Tajikistan's National Bank - head of Tajikistan's delegation to the EAG.

FAYZULLO FAYZULLOZODA

Date of birth: April 20, 1981

Marital status: Married

Nationality: Tajik

Contact information

Work address: 107 A Rudaki Avenue, Dushanbe, Tajikistan

AML/CFT experience

From 09 April until present Director of the Financial Monitoring Department of Tajikistan's National Bank (Tajikistan's FIU);

From 30 May 2017 to 09 April 2018 acting Director of the Financial Monitoring Department of Tajikistan's National Bank (Tajikistan's FIU);

From 28 August 2015 to 30 May 2017 Head of the Analysis & Research Office at the Financial Monitoring Department of Tajikistan's National Bank.

As head of analytics at Tajikistan's FIU, Mr. Fayzullozoda was responsible for the overall management of the A&R Office, including overseeing the database monitoring activities, operational and strategic analysis by office staff, processing and analysis of international requests received from/sent to foreign FIUs, and cooperation with domestic law enforcement authorities.

Mr. Fayzullozoda was an active participant in international AML/CFT/PWMD events, including EAG Plenary meetings and AML/CFT/PWMD workshops and training activities.

Prior to joining the Financial Monitoring Department of Tajikistan's National Bank, Mr. Fayzullozoda was head of a department at Tajikistan's Finance Ministry (supervisory experience).

Mr. Fayzullozoda's other experience includes work in law enforcement, including Tajikistan's Interior Ministry (law enforcement experience).

Cooperation with the EAG

Tajikistan is one of the founding states of the EAG and has been an active member of the group.

Mutual evaluation report of Tajikistan by the World Bank was approved at the 9th EAG Plenary meeting. It has been recommended that Tajikistan should bring its national legislation into compliance with the FATF Recommendations and take the necessary steps to support the functioning of the financial intelligence unit.